Answered step by step
Verified Expert Solution
Question
1 Approved Answer
f) What is the average rate of change from 2012 ($60,500) to 2020 ($71,400)? Round your answer to two decimal places. The graph below shows
f) What is the average rate of change from 2012 ($60,500) to 2020 ($71,400)? Round your answer to two decimal places. The graph below shows the median income of households in the United States from 2011 to 2021. A household income (or family income) is the total income of all people living in the household. The median household income in the U.S. in a given year is the middle household income when all household incomes in that year are sorted from lowest to highest. Line graph titled Median Household Income (2021 Dollars). X-axis is Years ranged from 2010 to 2022 in increments of 2. Y-axis is Average Household Income ranged from $60,000 to $74,000 in increments of $2,000. At 2011, income is around $60,000. At 2012, income is around $60,500. At 2013, income is around $62,500. At 2014, income is around $62,000. At 2015, income is around $65,000. At 2016, income is around $67,000. At 2017, income is around $68,000. At 2018, income is just over $68,000. At 2019, income is around $73,000. At 2020, income is just under $72,000. At 2021, income is about $71,000. The greatest increase in a one-year period was from 2018 to 2019 and the
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started